The global battery operated lights market is projected to reach $261.5 billion by 2032, growing at a CAGR of 10.2% from 2024 to 2032.
— Allied Market Research
WILMINGTON, DELAWARE , UNITED STATES, August 23, 2024 /EINPresswire.com/ — The report on the global battery operated lights market by Allied Market Research provides valuable insights, detailed statistics, and an in-depth industry evaluation from 2024 to 2032.
It covers top market segments, business proportion and size assessment, and the industry landscape, highlighting key investment opportunities and successful strategies. Moreover, it examines enterprise growth prospects and offers a competitive analysis, guiding companies in making informed decisions for achieving their goals and ensuring long-term success. According to the report, the industry is predicted to experience a noteworthy CAGR of 10.2% and generate revenue of $261.5 billion by 2032. The market was valued at $110.5 billion in 2023.
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Determinants of Market Growth
The study highlights the factors driving the industry’s growth, consisting of key drivers, restraints, and opportunities. It helps businesses understand the primary effects on consumer purchasing decisions and supports enterprise expansion. The global battery operated lights landscape is witnessing considerable transformation due to recent advances in battery technology, which have greatly progressed the performance and reliability of these lights, making them more attractive to customers. Modern batteries, such as lithium-ion and lithium polymer, offer enhanced efficiency and longer lifespans, allowing for extended usage. These innovations contribute to brighter LED lights, expanding their usability across various applications.
Moreover, the rising demand for movable lighting solutions shows an increasing appreciation for their flexibility and convenience, particularly in outdoor activities like camping and emergencies. In regions with inconsistent access to electricity, battery operated lights have become essential, further fueling the demand for these versatile lighting options.
However, the industry faces challenges related to battery lifespan, particularly the degradation of rechargeable batteries, which causes significant problems. Over time, these batteries lose their potential, resulting in decreased performance and a higher frequency of replacements. This can be costly and inconvenient, especially for consumers in remote areas where access to alternative batteries is limited. In regions with restricted electricity availability or short power durations, the need for frequent battery replacements becomes a major hurdle, potentially impacting market share.
Nevertheless, technological advancements, such as lithium-ion batteries and smart features like remote control and motion sensing, are driving demand for battery-operated lights. With the focus on extending battery life and integrating smart technology, manufacturers are enhancing consumer satisfaction and are expected to boost market growth in the coming years.
Competitive Landscape and Strategic Analysis
The report examines the competitive landscape of the global battery-operated lights market. With a thorough evaluation, AMR aims to highlight the competitive advantages of leading industry players by providing insights into their company profiles, financial performance, geographic expansion, and business growth strategies. The study also outlines the strategic moves taken by these top entities to enhance and expand their market presence, including partnerships, novel technology launches, mergers, and joint ventures. This detailed information enables businesses and stakeholders to make well-informed decisions and stay ahead of the competition.
The top companies profiled in the report are:
Philips
Duracell (Berkshire Hathaway)
American Lighting, Inc.
Lighting EVER
Energizer Holdings, Inc.
QTOP USA Inc.
Home EVER Inc.
S4Lights
General Electric
GE Lighting
BelloLite
Mr Beams
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Market Updates
In March 2021, Hubbell Control Solutions (HCS) launched the (NXP2 Series) NX Distributed Intelligence™ Lighting Control Panel. This modern panel centralizes connection points in a single enclosure, offering a streamlined installation process. The NXP2 Series is designed to simplify deployment, minimize installation time, and reduce costs, all while ensuring code-compliant lighting control.
In August 2021, FLEX GmbH introduced the WL 2800 18.0, a handheld wireless flashlight with seven high-yield LED water lamps. The WL 2800 18.0 provides excessive brightness and rich colorings. This product lets them perform nicely even in detrimental situations. The intensity of the light can be changed in two ways. The light has a range of 630 meters (approximately 2066.93 feet) and 2800 lumens at full power.
In December 2021, Good Earth Lighting launched new battery-powered lights that are easy to install and instantly enhance the look of any room. The new option introduced is a 9-inch white LED bar with RGBW (red, green, blue, and white) lighting. It provides up to 80 lumens of soft, ambient light.
Evaluating Regional Landscape Performance
This comprehensive report explores the regional analysis of the battery operated lights industry, focusing on revenue trends across different geographic regions. It segments the global market into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
In this analysis, Africa’s enhanced production of battery operated lights has raised the demand for raw materials, particularly cobalt. The Democratic Republic of Congo remains the leading supplier, accounting for over 70% of the world’s cobalt, primarily as a byproduct of nickel and copper mining. China dominates in refined cobalt manufacturing, sourcing a significant portion of its cobalt from Congo and consuming over 80% of rechargeable batteries.
In the U.S., a major automaker is expanding a plant to produce lithium-ion batteries. The facility, already operational, generates battery cells, drive units, packs, and power storage solutions. The plant’s full potential will require 35,200 tons of spherical graphite annually for lithium-ion batteries.
In China’s Guangdong province, Guzhen city plays an important role in the lighting industry, accounting for 75% of lamp purchases. With over 7,000 lighting companies and annual sales of 30 billion RMB, Guzhen contributes to the expansion of the Asia-Pacific lighting market.
To conclude, the global battery operated lights enterprise is witnessing robust growth, driven by advancements in battery technology and rising demand for portable solutions. This report provides businesses and stakeholders with valuable insights into market trends, competitive strategies, and regional analysis, permitting informed decisions and strategic investments for long-term success.
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David Correa
Allied Market Research
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